News Round-Up
A quick look at the news and goings-on in the commercial and residential property world this month ..
Growth in commercial property values
The UK has seen its 13th month of continual commercial property value increases – up 8.5% so far this year. The strongest growth was, as expected, in the South East with increased returns in May 2014 of 2.2% against a1.8% increase in central London.
As an investor this is great news, but as a business owner and property owner it could mean that if disaster did strike, you might find that you are underinsured.
The cost of buildings cover may need to be revisited each year, so do make sure you take this into consideration, rather than simply accepting your renewal quote.
Scottish commercial property market seems to be set for a boom
New research from Colliers International suggests that commercial property investors are putting off investment decisions until after the vote on Scottish independence.
They anticipate that after the Referendum, there will be a boom, no matter what the outcome of the vote.
While the rise in investment property ownership is expected to boom, in the event of a “yes” vote, some investors may feel a little uncertain, as it could take at least 18 months of negotiations on the nature of the new state.
A spokesman from the property firm said: “It could recover quicker than that if after 12 months there is a clear vision of where we are headed.”
£170,000 fine for “bed in sheds” landlord
A Berkshire landlord has been ordered to pay £170,000 in court fines within the next six months – or face jail time. He also must pay council’s costs of £17,676, within the same time.
According to the Get Reading website, Michael Aslam constructed ‘bed in sheds’ buildings on his property and opened an illegal hotel in his house.
Aslam had previously been ordered by the council to demolish an outbuilding at the rear of his property in Sipson Road, Sipson. This had been illegally rented out and used as a ‘bed in shed’. The rogue landlord, however, continued to take illegal rents and failed to comply with the court order.
Pensioner landlords lured by 5% returns
From next April (2015), instead of having to buy an annuity, or income for life, pensioners can access the cash in their pension pots and spend it how they choose. This, coupled with a number of buy-to-let mortgage lenders scrapping age limits on their products, has led to speculation that we will see a rise in pensioner landlords.
It is speculated that this new breed of landlords will use part of their pension monies as a deposit on a property, then use the rental monies to boost their income.
According to research, many people in their 50’s and 60’s are disillusioned with their pension pots and feel that the buy to let market will attract higher returns on their money.
The same article reports that a typical two-year fixed-rate savings bond pays just 1.75%, whereas buy to let (BTL) income offers a return of around 5.1% (and 8% in the more popular areas), making BTL an attractive proposition.
Why choose the Property Insurance Centre
Independent advice by approachable staff online or by phone
Access to a wide range of insurers to source suitable insurance cover for your needs
Bespoke Insurance Schemes & Portfolio Policies available
We can tailor your policy to suit your exact needs to give you complete peace of mind
Competitive Premiums
Cover available for the buildings while the property is being converted, renovated or extended
Over 40 years experience working with the best insurers in the UK
Excellent communication so that you understand what risks you are insured against
Why choose the Property Insurance Centre
Independent broker with staff you can speak to by phone or online
Access to a wide range of insurers to source suitable insurance cover for your needs
Bespoke Insurance Schemes & Portfolio Policies available
We can tailor your policy to suit your exact needs to give you complete peace of mind
Competitive Premiums
Cover available for the buildings while the property is being converted, renovated or extended
Over 40 years experience working with the best insurers in the UK
Excellent communication so that you understand what risks you are insured against
Why choose the Property Insurance Centre
Independent broker with staff you can speak to by phone or online
Access to a wide range of insurers to source suitable insurance cover for your needs
Bespoke Insurance Schemes & Portfolio Policies available
We can tailor your policy to suit your exact needs to give you complete peace of mind
Competitive Premiums
Cover available for the buildings while the property is being converted, renovated or extended
Over 40 years experience working with the best insurers in the UK
Excellent communication so that you understand what risks you are insured against
Specialists in Commercial & Residential Insurance
We have over 40 years experience as Residential and Commercial Insurance Brokers. We find the right policy to suit your needs and understand the risks that a property owner can face in the course of ownership. We work closely with our Insurers to get the best rates and our experience and excellent relationships with them mean that we can provide cover for even the most difficult to place risks.
Whether you have an adverse claims history, a high value property or a large portfolio of properties, we can source suitable cover for you. Whatever your requirements, we can tailor a specialist property insurance policy to suit your exact needs and provide you with a range of quotes to choose from. Established in 1976, we are not a call centre but a specialist insurance broker with a traditional office mentality, where the client comes first.
Looking for a quote now? Give us a call on 0800 085 3761 or complete one of our quote request forms.
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[contact-form-7 id="12585" title="New Callback"]We accept most payment types including:
UK Call Handlers & Dedicated New Business Team
Call Us on 0800 085 3761
Robert Fisher is a company director of the Property Insurance Centre, who specialise in Business and Property Insurance, serving clients throughout the United Kingdom. His expertise and career in insurance spans almost twenty years.
Robert’s background is in Building Surveying, which he studied at Heriot-Watt University, where he was awarded a BSc (Hons) degree. Much of his educational background is in Building Structural Safety from an engineering perspective.
The knowledge that Robert gained at undergraduate level has lent itself well, particularly as it has enabled him to evaluate the risks associated with certain buildings. This means he knows how best to place these risks and ultimately insure the properties against such risks.
His in-depth knowledge of various methods of construction has enabled him to easily identify which insurer’s underwriting criteria would best fit each client’s needs and provide the correct levels of cover.
Additionally, Robert is responsible for training the team and ensuring that they are always kept up to date with the latest industry developments. This is an area that he is naturally drawn to because of his inquisitive mind, diligence and passion for passing on knowledge to others.
He is a member of the Chartered Insurance Institute (CII) and qualified to Level 3 with the CII.
As part of the Level 3 certification, Robert has undertaken modules in Insurance, Legal & Regulatory (IF1), Insurance Claims Handling (IF4) and Insurance Household Products (IF6).
As a condition of CII membership, Robert continues his professional development by keeping abreast of the latest industry developments.
Contents
- 1 News Round-Up
- 2 Growth in commercial property values
- 3
- 4 Insurance under one roof
- 5 We are specialists in many types of insurance
- 6 Scottish commercial property market seems to be set for a boom
- 7 £170,000 fine for “bed in sheds” landlord
- 8 Pensioner landlords lured by 5% returns
- 9 Block of Flats
- 10 Unoccupied
- 11 Home Insurance
- 12 Residential Landlord
- 13 Land Liability
- 14 Commercial Property
- 15 Lockup Garage
- 16 Restaurant
- 17 Takeaway
- 18 Classic Car
- 19 Mixed Use
- 20 Tradesmen
- 21 Why choose the Property Insurance Centre
- 22 Independent advice by approachable staff online or by phone
- 23 Access to a wide range of insurers to source suitable insurance cover for your needs
- 24 Bespoke Insurance Schemes & Portfolio Policies available
- 25 We can tailor your policy to suit your exact needs to give you complete peace of mind
- 26 Competitive Premiums
- 27 Cover available for the buildings while the property is being converted, renovated or extended
- 28 Over 40 years experience working with the best insurers in the UK
- 29 Excellent communication so that you understand what risks you are insured against
- 30 Why choose the Property Insurance Centre
- 31 Independent broker with staff you can speak to by phone or online
- 32 Access to a wide range of insurers to source suitable insurance cover for your needs
- 33 Bespoke Insurance Schemes & Portfolio Policies available
- 34 We can tailor your policy to suit your exact needs to give you complete peace of mind
- 35 Competitive Premiums
- 36 Cover available for the buildings while the property is being converted, renovated or extended
- 37 Over 40 years experience working with the best insurers in the UK
- 38 Excellent communication so that you understand what risks you are insured against
- 39 Why choose the Property Insurance Centre
- 40 Independent broker with staff you can speak to by phone or online
- 41 Access to a wide range of insurers to source suitable insurance cover for your needs
- 42 Bespoke Insurance Schemes & Portfolio Policies available
- 43 We can tailor your policy to suit your exact needs to give you complete peace of mind
- 44 Competitive Premiums
- 45 Cover available for the buildings while the property is being converted, renovated or extended
- 46 Over 40 years experience working with the best insurers in the UK
- 47 Excellent communication so that you understand what risks you are insured against
- 48 Specialists in Commercial & Residential Insurance
- 49 Get In Touch:
- 50 We accept most payment types including:
- 51 UK Call Handlers & Dedicated New Business Team
- 52 Call Us on 0800 085 3761
- 53 Robert Fisher
